The Theory of Interest by Böhm-Bawerk from Germán Bernácer's Perspective
Abstract
This article aims to conduct a comparative analysis of the theoretical contributions of Germán Bernácer and Eugen von Böhm-Bawerk to the problem of interest, highlighting the significant parallels between them. Both authors shared a concern for explaining the origin and nature of the phenomenon of interest and based their theories on Turgot’s principles. Böhm-Bawerk regarded time preference as a key explanation, while Bernácer identified the fixed-income sector as the source of interest and proposed its elimination to prevent economic inefficiencies. Despite their differences, and considering that Bernácer was one of the first thinkers to study and assimilate Böhm-Bawerk’s work, the question arises as to whether the Alicante economist can be considered one of his continuators and to what extent he truly disagreed with Böhm-Bawerk's theory of interest.
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